In the battle for new business, advisers need to stay one step ahead of the competition to retain their current market share. A key advantage that brokerages have over high street lenders is their agility in adopting new technology and providing a more tailored service for each individual client’s needs. With some market experts claiming that advisers’ share in the market is likely to fall from 77% to less than 50% in the next decade, it is crucial that brokers find ways to leverage their advantage and protect their market share.
Enticingly low repayment rates from high street lenders have helped to create a healthy remortgage market despite significant uncertainty over recent years. This has created an excellent platform for advisers who want to demonstrate their value to clients that are looking to cash in on the cheapest rates available. However, with fears that the bubble may be about to burst, advisers need to evolve in order to stay relevant.
The recent return of execution-only business, paired with product transfers’ increasing prominence in the market, means that advisers need to ensure they are in the best position to compete. The top of any adviser’s priorities should be ensuring that they have the best technology available for a smooth and seamless mortgage journey for all clients. Most consumers want just two things: an excellent deal and an easy service. By adopting the best available platform for your business, you can ensure that you are providing both and that you are able to compete with direct-to-lender transactions.
Smartr365’s cloud-based platform uses state of the art technology to allow a straightforward and transparent service for all stakeholders within the process, giving visual updates of where a customer is within their journey. In addition, the cloud-based nature of the platform means that information can be viewed and shared online anywhere, providing a simple and efficient service for all stakeholders. With this approach, advisers will be able to retain their place in the industry.
Find out how Smartr365 can help your firm retain your place in the market by scheduling a demo here.